Dixon and Rexxam enter into JV for manufacturing of PCB for Air-Conditioners

Dixon has entered into Joint Venture Agreement (JV Agreement) with Rexxam Co. Ltd. (Rexxam). Pursuant to the said JV Agreement, Dixon Devices Private Limited (JV Company) will be 40% owned by Dixon and 60% owned by Rexxam. The JV Company has received approval under PLI scheme of Government of India under White Goods category and in accordance with the same, it will undertake manufacturing of Printed Circuit Boards for Air-Conditioners (PCBA) for the domestic and international market.

Commenting on this occasion, Mr Atul B. Lall, Vice Chairman & Managing Director, stated that "We are immensely grateful by the trust that Rexxam has bestowed on Dixon for this collaboration. Through this partnership, we are taking a leap in our long standing relationship of 7 years with Rexxam. The JV Company will cater to customers of Rexxam for both domestic and export markets. With Dixon's excellent record of manufacturing and Rexxam taking the lead in marketing and sales, we are positive that this partnership will be well positioned and a key player in this space and shall be a contributor in strengthening India's electronics manufacturing sector as well as towards Indian government's vision of an Atmanirbhar Bharat".

Shares of Dixon Technologies (India) Limited was last trading in BSE at Rs. 5270.80 as compared to the previous close of Rs. 5270.20. The total number of shares traded during the day was 17586 in over 4270 trades.

The stock hit an intraday high of Rs. 5368.00 and intraday low of 5239.65. The net turnover during the day was Rs. 93284360.00.

Source : Equity Bulls

Keywords

DixonTechnologiesIndia INE935N01020 Rexxam JVCompany DixonDevices PCB AirConditioners